Despite Heavy Losses in 2011, Nintendo Confident of Profitable 2012

Nintendo, world's largest console maker reported a ¥48.4 billion net loss for duration of 9 months as compared to ¥49.6 billion profit year on year. The company also mentioned that they are heading towards a full-year loss of ¥45 billion. Due to weak sales especially that of 3DS gaming console, share prices of Nintendo fell by 56 per cent over the past year.

The sales forecasts have also been curtailed by 3DS maker. According to estimates, the company will be selling 10 million Nintendo Wii in place of 12 million as predicted earlier and the estimated sale of Nintendo 3DS handheld games player will be 14 million instead of 16 million. As a matter of fact, the company had cut down the price of Nintendo 3DS device by 40 per cent last year in the wake of a gradually declining sales volume of the product.

Nintendo's president, Satoru Iwata, stated that the company is taking its time "to revive sales momentum" post the drop of price. The price had to be cut down as the company was very slow in launching any games featuring Mario character for the Nintendo 3DS.

But, the president is confident that this company will earn profit next year as they have decided to charge for downloading additional content for their software titles, reported The Telegraph.